Balboa Capital closed its seventh equipment asset-backed securitization, a $201 million issuance. Truist Securities served as structuring agent and was an initial purchaser of the notes and co-lead along with Credit Suisse Securities. Capital One Securities was an initial purchaser of the notes and co-manager. In this offering, Balboa Capital issued six classes of notes that were rated by DBRS Morningstar, Moody’s Investors Service and Kroll Bond Rating Agency. The securitization included $68.77 million of Class A1 notes, $71.944 million of Class A2 notes, $38.088 million of Class B notes, $8.464 million of Class C notes, $8.464 million of Class D notes and $5.29 million of Class E notes.
“We are pleased with the strong execution and expanded investor participation in our seventh ABS deal despite today’s challenging business environment,” Matthew Goldenberg, treasurer at Balboa Capital, said. “This successful transaction is an endorsement by investors and rating agencies, including an Aaa rating from Moody’s on the Class A2 notes, which is a first in Balboa Capital’s history. It substantiates the strong and consistent results of our portfolios and reflects a strong testament to our investors’ trust and confidence in our business model for more than three decades. This securitization will allow us to continue supporting small and medium-sized businesses that need access to growth capital.”
“Conduct yourself in every situation as if there was a spotlight on you and everyone can see what you’re doing behind the scenes. Do what’s right. If you do what’s right and work hard, then you’ll be successful.” Bette Kerhoulas’... read more
“[Miles] will go out of his way to make sure the people around him have everything they need to go as far in their careers as they want.” – Michelle Speranza, Chief Marketing Officer, LEAF Before he began to consider... read more